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Updated about 1 year ago on . Most recent reply

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Fee to an agent to handle all for legal paperwork

Posted

Hello,
I am the Trustee and Executor of my mother's Family Trust and, per her Will, and now, after her passing, am in the process of selling her home.
The beneficiaries would prefer not to go through the process of putting it on the market, and possibly having to "fix-up", do marketing, open houses, contingencies, etc.  We have a friend who buys, renovates, and sells houses. She has made us an "as is" offer, and has an escrow company that handles her legal paperwork and funding.   All beneficiaries are prepared to sign a "Consent to Sale."

The attorney for our Family Trust has advised me to find a realtor agent to represent me as Trustee, to avoid "any and all liability, costs, damages, claims or obligations in connection with the sale of the property."

What is the average fee that should paid to an agent to handle all of the paperwork and make sure that everything that is legally required is taken care of?  I've been quoted a price of 1.75% of the selling price by one realtor --  Is that a fair price? Another indicated they could do it for about 1%, but I don't feel comfortable with the reviews I've read about him.  Could you please give me some advice?

FYI, the property is in Pasadena, California, and the proposed offer is $1,150,000.  (The property has been appraised at $1,135,000.)

Thank you!

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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
30,143
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17,454
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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
ModeratorReplied

Seems like a fair price. Remember as your attorney stated, there is a lot of liability for the agent in the sale of the property. Part of the cost they charge isnt just for paperwork, its for their expertise, and for their own liability of doing a job where we get sued, a lot. 

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